Step 6 – The tax refund is to assist with your “New home purchase” and closing costs, new appliances etc.

Step 7 – After a minimum of 89 days, withdraw funds from your RRSP to payoff the RRSP loan.NOTE: This withdrawal cannot be more than 30 days after the closing date of your new home. (Other Revenue Canada restrictions could apply)

Step 8 – Your RRSP withdrawal has to be repaid to your RRSP over 15 years starting as late as Jan. 1/2019. Example: $15,000 withdrawn, a repayment of $1,000 per year over 15 years – this is a great way to save for your future retirement.